FAREWELL SEPTEMBER!

What fate awaits the final trading day of the third quarter wonder? Heading into Wednesday's session the S&P 500 index has a monthly gain of 3.9% after a relatively minor pullback marked the anniversary of a 700-plus point decline one year ago.

Tuesday's session was spoiled by a failure of consumer sentiment to keep rising at so brisk a pace as in August. The Conference Board's consumer confidence reading inched lower to 53.1 from 54.5 in September, raising the question of whether all good things must come to an end or whether it's simply time for a pause in proceedings. Expectations of a rise to 57 were sadly dashed.

Crude oil prices almost reached $65 per barrel as it edged lower to settle down 13 cents on the day $66.71.

The Case-Shiller index of home prices marked a third straight monthly increase, this time with a 1.6% gain in prices in 20 major U.S. cities for July. The annual pace of decline dropped to 13.3% year-over-year.

The final day of the quarter will also see the release of the private sector employment survey from payroll-processor ADP. This report typically sets up some kind of a battle between its perspective on the economy and that of the official report following just two days later.

What you must remember is that the ADP data doesn't count the more volatile reading of government jobs, which has on occasion massively distorted the data from the Bureau of Labor Statistics.

Copper and gold prices are steady in Asian trading where share prices are modestly higher heading into the month end.

The dollar's rally this week does seem to be hitting a brick wall and that could prove bullish for commodity prices into early October.

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